Workspace Group (LON:WKP) Stock Price Crosses Below 200 Day Moving Average – What’s Next?

Workspace Group Plc (LON:WKP) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 374.63 and traded as low as GBX 341.40. Workspace Group shares last traded at GBX 346.43, with a volume of 1,057,443 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Berenberg Bank raised their target price on Workspace Group from GBX 401 to GBX 427 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 406 price target on shares of Workspace Group in a research report on Thursday, June 11th. Deutsche Bank Aktiengesellschaft cut their price target on Workspace Group from GBX 480 to GBX 400 and set a “hold” rating for the company in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. lowered their price objective on Workspace Group from GBX 500 to GBX 410 and set an “overweight” rating on the stock in a research note on Tuesday, June 9th. Finally, Stifel Nicolaus lowered their price objective on Workspace Group from GBX 550 to GBX 500 and set a “buy” rating on the stock in a research note on Friday, April 17th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 440.50.

Workspace Group Price Performance

The firm has a market cap of £641.02 million, a P/E ratio of -8.44, a PEG ratio of 1.54 and a beta of 1.09. The business’s fifty day simple moving average is GBX 338.17 and its 200-day simple moving average is GBX 374.08. The company has a current ratio of 0.42, a quick ratio of 0.11 and a debt-to-equity ratio of 59.71.

Workspace Group (LON:WKP) last posted its quarterly earnings results on Wednesday, June 10th. The company reported GBX 31.30 EPS for the quarter. The firm had revenue of £181.40 million during the quarter. Workspace Group had a negative return on equity of 8.83% and a negative net margin of 66.32%. As a group, analysts forecast that Workspace Group Plc will post 36.7630058 EPS for the current fiscal year.

About Workspace Group

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.